Page 6 - Uae

India, UAE to set up food corridor at $2 bn investment: Piyush Goyal

India and the UAE will set up a food corridor with an expected investment of USD 2 billion which will cater to the UAE market and beyond and help Indian farmers earn higher income and create more jobs, Union Minister Piyush Goyal said on Monday. Addressing a press conference on the 12th meeting of India-UAE High-Level Task Force on Investment here, Goyal, who is the Minister for Commerce and Industry, said that a small working group comprising central government, state governments involved and the UAE has also been set up to take forward the establishment of food corridor between the two countries on a mission mode basis. "... Another area which was discussed in great detail was the setting up of food parks in India. The background work is largely completed, (this is) another area which will help farmers with higher income, provide jobs in food processing to thousands if not lakhs of our youth and will also ensure the food security of UAE," Goyal said. The minister said that ...

India eases certain conditions for UAE in bilateral investment treaty: GTRI

India has eased certain conditions for UAE in the bilateral investment treaty by including portfolio investments and reduction in the local remedies exhaustion period from five years to three years in the pact, economic think tank GTRI said on Monday. The India-UAE Bilateral Investment Treaty (BIT) came into force on August 31 this year. The model BIT requires investors to attempt to resolve disputes through India's legal system for at least five years before seeking international arbitration. In contrast, the India-UAE BIT reduces this period to three years, giving investors quicker access to Investor-State Dispute Settlement (ISDS). "While this makes the treaty more investor-friendly, it also weakens India's ability to settle disputes domestically, increasing the likelihood of arbitration cases that could challenge India's regulatory decisions," the Global Trade Research Initiative (GTRI) said in a statement. It added that local remedies exhaustion means that investors must firs

Sharjah emerges as alternative to the sky-high rents in neighbouring Dubai

It's the latest sign that Dubai is struggling to keep up with the soaring demand for housing after bankers, lawyers and other white-collar workers flocked to the emirate in recent years

EAM Jaishankar meets counterparts from Denmark, UAE, and Singapore at UNGA

The meetings centred around strengthening bilateral ties with each nation

COP hosts aim for 33% increase in combined oil and gas production by 2035

Azerbaijan, the UAE, and Brazil -- the past, current, and next hosts of the UN climate conference -- are set to increase their combined oil and gas production by 33 per cent by 2035, contradicting their commitments to lead global efforts for stronger climate action, according to a new analysis. The analysis, compiled by the US-based research and advocacy group Oil Change International using industry data, shows that the UAE and Brazil are on track to increase production by 37 per cent and 38 per cent, respectively, by 2035. Azerbaijan, which will host COP29 in Baku in November, is projected to see a four per cent rise in production. At the last UN climate summit in Dubai in November-December 2023, leaders made a historic commitment to transition away from fossil fuels, triple renewable energy capacity and double energy efficiency by 2030. Oil Change International said that the ongoing expansion of oil and gas investments undermines these commitments. Earlier this week, the ...

US, UAE discuss progress on India-Middle East-Europe Economic Corridor

US President Joe Biden and his counterpart from the United Arab Emirates Sheikh Mohamed bin Zayed discussed the progress of the landmark India-Middle East-Europe Economic Corridor (IMEC) and underscored its potential to usher in a "new era of international connectivity". The ambitious project was launched at the 2023 G20 Leaders' Summit in New Delhi, together with the leaders of India, Saudi Arabia, France, Germany, Italy, and the European Union. When complete, it would connect India by ship-to-rail connections through the United Arab Emirates, Saudi Arabia, Jordan, Israel, and Europe through Greece. At the meeting held at the White House on Monday, Biden and Zayed reaffirmed that the corridor will generate economic growth, increase efficiencies, lower greenhouse gas emissions, and enable the transformative integration of Asia, Europe, and the Middle East, according to a joint statement. The two leaders underscored that the transformative partnership had the potential to usher in a

TSMC, Samsung discuss building new semiconductor factories in UAE

Executives from TSMC, the world's largest chipmaker, have visited the UAE recently to discuss building a plant complex

Oberoi Group exits UAE market, ends partnership with Al Zorah Resort

The management contract between EIH Holdings Ltd, a subsidiary of EIH Ltd, and Al Zorah Development Private Co Ltd will officially end on February 28, 2025

UAE makes women on board mandatory for private joint-stock cos from 2025

The United Arab Emirates on Wednesday announced mandating private joint-stock companies in the country to allocate at least one seat for women on their boards of directors after the completion of the current board's term. The United Arab Emirates' Ministry of Economy further announced that the implementation of this decision will commence in January 2025 and urged the private joint-stock companies to factor this requirement into their future board restructuring plans. This decision is a vital component of the nation's broader strategy to enhance diversity in the corporate sector and increase women's representation in leadership roles, the Ministry announced on Wednesday. The Ministerial Resolution 137 of 2024, which addresses the regulation of private joint-stock companies' governance and operations, follows a similar initiative previously applied to public joint-stock companies, it said, adding, the earlier decision has already yielded positive results, enhancing institutional ...

Unique 600kg-floral Onam tribute honours UAE's spirit of generosity

In a heartfelt tribute to the UAE's values and the spirit of the harvest festival of Onam, healthcare workers at a hospital in Abu Dhabi have created a special pookkalam, a traditional Malayali floral carpet, with 600 kg of flowers flown in from India. This year's floral display at Abu Dhabi's Burjeel Medical City (BMC) symbolised the UAE's focus on tolerance, generosity, peace, sustainability and innovation, while also embracing the spirit of Onam, a festival known for its message of togetherness. The giant pookkalam, made with 600 kg of fresh flowers flown in from India, was arranged by over 100 healthcare workers in the atrium of BMC, the flagship hospital of Burjeel Holdings. Onam is more than just a festival for us; it is a time to reflect on the values of togetherness and community. This year, we wanted our floral carpet to not only symbolise Onam but also reflect the values that the UAE stands for," said Dr Sanjay Kumar, Chief Human Resources Officer of Burjeel Holdings. "It

UAE, Germany discuss boosting cooperation ties, strategic partnership

They also exchanged views on the latest regional and international developments, particularly the situation in the Middle East

India, UAE ink agreement on operating nuclear plants in Gulf nation

India and the UAE have inked a pact that provides a framework for giving services for operation and maintenance of nuclear plants in the emirate. The Memorandum of Understanding was signed by Bhuwan Chandra Pathak, Chairman and Managing Director of the Nuclear Power Corporation of India Limited (NPCIL), and Mohamed Al Hammadi, the Managing Director and Chief Executive Officer of the Emirates Nuclear Energy Corporation (ENEC) of the UAE. The MoU was inked during the ongoing visit of Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan to India. Al Nahyan held talks with Prime Minister Narendra Modi on Monday. "The MoU provides a general framework for the possible collaboration between the NPCIL & ENEC in the relevant fields, which inter alia include developing supply chains, sharing experience and providing services for Operation & Maintenance of Nuclear Energy Plants, providing nuclear consulting services, human resources development & training, research ...

India-UAE sign pacts on LNG supply, crude production and nuclear energy

5 MoUs were signed after the meeting of the UAE crown prince with PM Modi in Delhi

PM Modi, Abu Dhabi Crown Prince hold discussions to focus on bilateral ties

In the pictures shared by Jaiswal, Piyush Goyal can be seen greeting Sheikh Khaled bin Zayed Al Nahyan, and the former receiving a ceremonial welcome

From Bangkok to Baku: How Indians are jet-setting across the globe in 2024

Indians are jet-setting like never before, with a 32 per cent jump in multiple international trips annually. Dive into the 2024 travel trends to see how Indians are taking their wanderlust to new heig

UAE amnesty program: Indian mission announces facilitation measures

The Consulate General of India here has rolled out several measures to help Indians avail the benefits of the two-month amnesty scheme beginning on Sunday in the UAE that will allow foreigners residing illegally in the country to either regularise their residency status or leave without incurring penalties. The amnesty programme applies to numerous visa categories, including expired residencies and tourist visas, as well as for those without documents. However, those who illegally entered the country will be excluded from the programme. Those adjusting their status can waive fines and fees, with an option to leave without a travel ban. Under the programme, applicants who desire to return to India may apply for an Emergency Certificate (EC) and those who desire to regularise their residency status may apply for a short-validity passport. Applicants can request for EC at the Consulate on a Gratis basis (free of charge). facilitation counters will be set up at the Consulate General of

UAE signs agreement with UNICEF to aid humanitarian efforts in Sudan

The agreement allocates $ 6million for UNICEF's operations in Sudan and $ 1million for its activities in South Sudan

UAE joins final UN SG's Critical Energy Transition Minerals panel in Kenya

During last meeting, panel members stressed importance of forming stronger foundations, focusing on international cooperation to achieve mutual and collective benefits with respect to mining industry

UAE joins BRICS partners for launch of Centre for Industrial Competences

The centre will promote partnerships within the framework of the New Industrial Revolution (NIR) to identify interests, challenges, and opportunities in the rapidly evolving industrial landscape

RBI might ask banks dealing with UAE to push direct rupee-dirham settlement

The move is part of India's attempt to increase trade settlement in the rupee and reduce reliance on the dollar, an ambition that has evaded most nations